Duplex with One-Bedroom
509 E Heron, Denison, TX 75021
For Sale
$245,000
Two tenant-occupied residences include updated interiors and a separate accessory dwelling with a loft bedroom.
Property Size2,116 SF
Price / SF$115.78
Days on Market79
Property Features for 509 E Heron
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Multifamily Units
Tenant in Place
Building Details
Year Built
Tenancy
Listing Agency:
OmniKey Realty, LLC.
Listed By:
Bernard Bell · License TX #0718117
(972) 480-8280
Source:
Realestatestation
Added: Aug 23
Changed: Nov 8
Last Checked: Nov 8 at 3:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of OmniKey Realty, LLC.
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Investment Insights
Based on property information with market context.
This 1930 property pairs a home with a 792-square-foot accessory dwelling unit. The ADU has a living area, loft bedroom, full bathroom, and full kitchen space. Inside the home, updated finishes include luxury vinyl plank flooring, refreshed bathrooms, and an updated kitchen with appliances. No carpet is present.
The two residences are identified as 509 and 511 E Heron in Denison. Both are tenant-occupied. The lease at 509 runs through June 2027, while the lease at 511 runs through April 30, 2027.
The two residences are identified as 509 and 511 E Heron in Denison. Both are tenant-occupied. The lease at 509 runs through June 2027, while the lease at 511 runs through April 30, 2027.
Key Highlights
- 792‑square‑foot ADU with a loft bedroom, full bath, living area, and kitchen space
- Both residences are tenant‑occupied
- Lease at 509 runs through June 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,221
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$324,420
$324.4K
Cap Rate 7%
$231,729
$231.7K
Cap Rate 9%
$180,233
$180.2K
Market Conditions
NOI Build-Up for 2,116 SF
Gross rent
$26.2K $12.36/SF
− Vacancy
−$3.0K −$1.41/SF
EGI
$23.2K $10.95/SF
− OpEx
−$7.0K −$3.29/SF
NOI
$16.2K $7.67/SF
Area
Grayson County, TX
Vacancy
11.40%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$324,420
Cap Rate 7%
$231,729
Cap Rate 9%
$180,233
Alternative Uses
Best Use
Multifamily LT 5
$231.7K
$202.8K – $270.4K
NOI $16,221 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$205.4K
$179.7K – $239.7K
NOI $14,379 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$744.3K
$651.3K – $868.4K
NOI $52,104 @ 7.0% cap · market cap 21.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
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Business Placement
Demographics for 75021, TX
8,288
Population
3,871
Households
2.1
Avg Household Size
44
Median Age
17%
College-Educated
90%
High-School Grad
58.4 sq mi
ZIP Area
142
Density / Sq Mi
$67,159
Median Household Income
$36,955
Median Earnings
$900
Median Rent
$188,600
Median Home Value
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Market
Properties on Market for Duplexes in Denison
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two tenant-occupied residences include updated interiors and a separate accessory dwelling with a loft bedroom.
Where is this duplex located?
The property is located at 509 E Heron Denison, TX.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 792‑square‑foot ADU with a loft bedroom, full bath, living area, and kitchen space; Both residences are tenant‑occupied; Lease at 509 runs through June 2027
